A parliamentary group in the UK, the All Party Parliamentary Group on Crypto and Digital Assets (APPG), recently said it had launched an inquiry that will examine the country’s current approach to crypto asset regulation and digital assets. In addition to gathering information through evidence sessions, the APPG said it is also open to input from industry players.
Making the UK the ‘global home of crypto investment’
A United Kingdom (UK) parliamentary committee known as the Crypto and Digital Assets All Party Parliamentary Group (APPG), recently said it had launched an investigation into the country’s crypto and digital assets sector. The investigation will focus on the country’s current approach to the regulation of cryptocurrencies and digital assets. It will also examine the UK government’s plans to turn the country into a “global home of crypto investment.”
In a statement, the parliamentary group said it will carry out several test sessions in the coming months. In addition to collecting evidence through public meetings, the APPG said it is also open to input from industry players such as crypto operators, regulators, and industry experts.
Once the investigation period is over, the APPG said it will prepare “a report with key recommendations and share its findings with the government for its consideration.” The report will also be shared with the Treasury Select Committee in parliament.
Crucial moment for the crypto industry
Commenting on the launch of the investigation, Lisa Cameron, President of Crypto and Digital Assets APPG, said:
The UK crypto sector has seen increased interest from consumers and regulators as the number of people who now own some form of cryptocurrency or digital asset has grown in recent years. We are at a crucial time for the sector, as global policymakers are also reviewing their approach to cryptocurrencies and how they should be regulated.
Cameron added that the group will also look into concerns about financial crime and advertising in the UK crypto sector. The APPG will further analyze the steps taken by regulators in other jurisdictions.
Meanwhile, the group’s statement said that submissions from individuals and organizations wishing to express their views must be submitted via email on or before September 5. The statement also revealed that the APPG “will accept relevant reports and research as part of any written submission as an appendix.”
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